Indonesia Looks to Raise Palm Oil Export Quota

Sumber: Reuters | Editor: Thomas Hadiwinata

KONTAN.CO.ID - JAKARTA, July 2 (Reuters) - Indonesia proposed raising palm oil export quotas on Friday and is considering increasing mandatory levels of biodiesel in fuel mixes to prop prices for farmers at a time when domestic palm oil inventories are high, a senior minister said on Saturday.

Palm oil inventories ballooned and mills limited purchases of fresh fruit bunches (FFB) from farmers after Jakarta stopped exports of crude palm oil and some other derivatives for three weeks to May 23 in a bid to contain soaring domestic cooking oil prices.